Canadian fertilizer maker Nutrien said on Wednesday that in response to uncertainty over potash supplies from Eastern Europe, it plans to increase its production capacity to around 15 million tonnes in 2022, a gain of almost one million tonnes compared to previous expectations.
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Most of the additional volume is expected to be produced in the second half of the year. According to the company, the action is related to the war in Ukraine. “The impacts of this conflict extend beyond Eastern Europe with disruptions in the supply of agricultural products and fertilizers and implications for global food security,” said Ken Seitz, President and Interim CEO of Nutrien.
The company expects its potash production in 2022 to increase nearly 20% from 2020 and account for more than 70% of global production added during that period. As for the outlook and orientations for this year, the manufacturer indicated that it should provide details when publishing the results for the first quarter of 2022, in early May.
Potassium warehouse (Photo: Reuters)
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